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RPT-Dubai's Aramex buys Fastway Couriers' NZ, Australia business for $81 mln

Published 21/01/2016, 04:22 pm
RPT-Dubai's Aramex buys Fastway Couriers' NZ, Australia business for $81 mln

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DUBAI, Jan 21 (Reuters) - Aramex has acquired Fastway Couriers' New Zealand and Australian business for NZ$125.28 million ($80.59 million), the Dubai-based logistics company said in a filing to the exchange on Thursday.

The transaction comes a day after Aramex announced it had acquired a 25 per cent stake in WS One General Trading, a UAE cross-border parcel consolidation service, for 9 million UAE dirham ($2.45 million). October, Aramex Chief Executive Hussein Hachem said the company has several acquisitions in the pipeline and is expecting to close deals valued in the range of $150 million in the next two quarters. Couriers has more than 250 franchise partners in New Zealand and 800 in Australia, according to the statement.

($1 = 1.5547 New Zealand dollars) ($1 = 3.6726 UAE dirham)

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